Bonuses and rewards are one of the main distinctions between online and offline sportsbooks. You will get hundreds of dollars in deposit bonuses, free bets, rebates, and VIP programs just by choosing to bet online.
With the right deal and a little of luck – because you do have to profit from sports bets – you can break even, or perhaps even walk away a little richer.
We know what you’re beginning to wonder, where are you going to sign up? But just hang on for a second. Move too quickly, and you could make a typical rookie mistake: Registering with an online sportsbook for their promotions.
That’s a terrible idea and a guaranteed way to get ripped off. It would be best if you made sure that the sportsbook you’re interested in is licensed, regulated, and, most notably, has a record for paying their customers quickly.
Table of content:
Sportsbook Bonus Terms And Conditions
As a baseline, always read the terms and conditions when you see ads for promotional bonus bets. Some sportsbooks can restrict what you may bet on with your promotional bets—possibly not allowing wagers on markets that are priced more than-200. The terms and language somewhat differ everywhere, so be sure to read them. Now let’s look at the most general terms and phrases you’ll see and break them down.
1. Free Bet
Several sportsbooks offer free bets. Get $5 or $50 here. But these are not what you think they are—their headlines are misleading. This is what we imply:
If a sportsbook gives you a free bet, they won’t give you the money to bet. Rather, what they mean is a “risk-free” bet. They are offering you some form of insurance.
For example, suppose you find an offer for a “free live bet up to $100.” If you make a live bet and lose, the sportsbook will pay you up to $100. This deal only pays if you lose.
What if you win?
Nothing is going to happen. You’re going to grab your winnings and move on. The deal is done. It’s one of the offers that are thrilling and consolation for others, although it’s seemingly meaningless and anti-climactic for others.
Important Note
You may be asked to use a free bet within a specific timeframe, likely within 30 days of the first bet that qualified you to make the promotion.
Second, when you use up the free bet, you’ll only cash out a win—not the $500 stake as well. So if you make another $500 bet at a 110 price, and you win, in that scenario, you’d end up with another $454, not $954.
2. VIP/Cash Back
Several sportsbooks are going to give you points for every $1 or $10 you bet. The goal is to earn points so that you can move up to (VIP) levels later, as well as trade your points for cash back, merchandise, and other benefits.
Sportsbooks with multilevel VIP programs are perfect if you expect to make a lot of bets because they appear to offer exclusive bonuses, rebates/insurances, products, prompt payments, and cashback.
Even better still, some multilevel VIP programs have point multipliers to step up in levels. This means that you can gain points at a substantially faster pace than the level below you. These same programs also raise the points-to-cash-back ratio the higher you go up, too.
It’s like attaching a space shuttle to another space shuttle… attached to another space shuttle, with the destination of an island full of gold. In short, if you can find a legendary sportsbook offering a VIP program like this, sign up quickly.
3. Deposit Bonus
This is the most popular of all online gambling offers. It’s so widely known that it was supposed to be the first to be mentioned in this article. A deposit bonus is a match bonus, a sportsbook offer that matches your deposit percentage up to so many dollars.
For instance, assume you’re given a 100% bonus of up to $500.
What this means is that the sportsbook will give you $1 for every $1 you deposit. Deposit the whole $500, and you’re going to get $500 from a sportsbook for a total of $1,000.
4. No-Deposit Bonus
A no-deposit bonus is money that a sportsbook gives you after you register– and you don’t have to make a deposit to access it. These are small sums, anywhere between $5 and $50, and are sold as a risk-free way of trying out their sportsbook.
5. Refer-A-Friend
This offer is exactly as it sounds—refer “friends” to the sportsbook, and you’re going to get a finder’s fee. Fees differ in size but are typically between $50 and $150. And you’re not going to get paid until your pal makes a deposit, and in some instances until they clear their deposit bonus.
You are not going to know for sure until you read the terms and conditions.
Make Sure You Read The Terms And Conditions!
All this talk regarding free money sounds sweet, doesn’t it? Well, don’t forget what we mentioned earlier—don’t think for a minute that sportsbooks are doing this simply out of the goodness of their hearts.
Sportsbooks are a profit-making company. Don’t forget that.
Now, that’s not to say incentives and rewards are evil. We don’t say that at all. But what we want to make clear is that you’re unlikely to make money out of the back of those deals.
Some people will. Others won’t. And that’s because each offer has terms and conditions – most of which urges you to gamble and lose your own money before you can ask for cash out.
Conclusion
Bear in mind that with any form of bonus, there could be limitations on the markets you may bet on – usually stopping you from making heavy bets (or very heavy favorites). One sportsbook allows you to bet on sides with a price of-250 or higher (i.e., -249 or -100).
In such situations, sportsbooks are not going to make it a complete game to collect a bonus credit – by betting heavy favorites. Odds at-200 are 66.7 percent likely to win.
E-mail and speak with Customer Service Representatives to help you in case you experience any uncertainty about enabling or acquiring your bonus. From the reviews gotten from many bettors, sportsbooks were responsive and helpful. And for the hundredth time in this post, read the terms and conditions and take a screenshot of them after signing up.
